FILE PHOTO: Finance Minister Mohamed Maait speaks during a news conference in Cairo, Egypt July 5, 2018. REUTERS/Mohamed Abd El Ghany/File Photo
CAIRO - 3 May 2020: The state attaches significant importance to the future of economy and securing a prosper future, said Finance Minister Mohammed Maait Sunday.
The minister was addressing the parliament's plan and budget committee that convened to discuss a draft law proposed by the government to amend law no. 147/1984 on imposing a fee for the development of state's financial resources.
The allocation of LE 100 billion from the 2020 budget to pensions and salaries proves that the state privileges the citizens, the minister said, adding that state took decisive decisions in critical times to champion the citizens.
Despite the tough decisions adopted by the state to carry out economic reforms, the situation would likely not be as good as now, Maait said.
The impact of the coronavirus on the economy is being assessed, the minister said, noting that the state revenues were badly affected as well as several activities.